Amid heightened tensions of a trade war between the US and China, China on Monday promised India to address the high trade imbalance between the two countries. Chinese Minister Zhong Shan welcomed Indian investment in China and promised to address the trade deficit between the two countries, commerce and industry ministry said in a statement on Monday.
Shan, who is China’s minister of commerce, co-chaired the 11th meeting of India-China Joint Group on Economic Relations, Trade, Science and Technology here with commerce and industry minister Suresh Prabhu. Shan’s statement comes in the wake of the US raising tariffs on steel and aluminium imports, a move that impacts India and China and following it up with by announcing to impose new tariffs on $60 billion worth of Chinese technology and consumer goods.
Source: economic times